Hishigmaa manages a button-making business which she and her husband started in 1996. Her husband is responsible for making the buttons, while she is responsible for selling them at Narantuul market, one of the busiest markets in Mongolia. They are quite experienced business owners who are planning to expand their enterprise in the future. Their working capital now exceeds 1,800,000 MNT, with daily earning between 80,000 and 120,000 MNT.
A polite and friendly woman who says, "I am planing to buy a car in order to start taxi service business too," Hishigmaa is requesting a 3,500,000 MNT loan to purchase a new car.
About XacBankThis loan is being administered through XacBank, a Mongolian for-profit microfinance institution. XacBank is located in every province of Mongolia, reaching some of the most rural micro business clients. With this Kiva loan, there is an opportunity for the entrepreneur to get a savings account including 9% of the interest if they pay back the loan on time. This is a special savings account that XacBank has specifically prepared for the Kiva loan borrowers to promote savings habits.
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